True Surdo. Tradestation won't be refunding a thing. That contract that is as thick as a bible basically frees them from any type of liability but don't you find it odd that his limit exit AND stop didn't get hit even though the price traveled through both?
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Tradestation Woes - Must pick a new Platform
- Thread starter Truckload
- Start date
Quote from Surdo:
Whomever coded the automated strategy is obviously responsible. You are not going to get any sympathy from anybody on this site. Try taking TradeStation to arbitration if you actually believe they are to blame.
I have news for you, when you signed the "new account" form, you exonerated them of any liability for your inability to code EL. Move on mate, it's not worth the energy. Get a wireless laptop for watching the market from work.
el surdo
I coded the EL strategy and it has worked just as programed every day for a month before this happened. There is no problem with the code. You obviously don't know as much as you think you do. Stop making assumptions.
As for the agreements, yes we all sign an agreement that says that the broker/software provider is responsible for nothing. I understand that. That does not make it right, honest, ethical or moral. Get over it. Right is right and wrong is wrong.
Now, what I need is not a lecture on the finer points of why no matter what Tradestation failed to do it is all my fault. I need advice on a more reliable platform/broker combo. See part 2 of my post here.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=130699
Sorry for being a bit irritated right now, but you sound like someone who works for a brokerage.
Quote from ProfitTakgFool:
Let me see if I understand this right.....you have a limit exit and the market traded through it, did not execute, then the market came back and traded through your stop and did not execute that either?
Yes, that is correct. Tradestation says that there was a problem with the connection between the exchange server and their server resulting in one of my orders being rejected. The one rejected order caused all orders that followed also to be rejected. They acknowledge that the problem was betwen their servers and the exchange server but still refuse to do what is right and restor my account to its amount before they screwed up.
Quote from Truckload:
Sorry for being a bit irritated right now, but you sound like someone who works for a brokerage.
I do not work for anybody but myself, and have been bent over by TS myself on various occasions.
Hire a securities atty, and take the fuckers to arbitration if they actually admitted the order's failed to be executed as a result of their connectivity loss to the CME.
I am on your side bro, not TS.
el surdo
Quote from Truckload:
I was working my regular full time job, mate when Tradestation failed to execute their service.
I don't know why anyone would want to automate trading if they are going to sit in front of the computer the whole time. Sounds kind of stupid to me. Sort of defeats the whole point of automation.
Since Tradestation markets themselves as THE autometed trading solution, I think the only real blame lies in one place, and it isn't with me, mate.
Since no one else has bashed you too hard yet, let me take the opportunity. This type of thing happens to EVERYONE eventually if you are not watching your system trade. Trust me on that. It is not an exact science, no matter how much you want it to be or think it may be. There will always be power issues, internet connectivity issues, execution errors and so on. You are quite sorely mistaken to believe otherwise. I learned this the hard way, and I believe most others did as well. Now it was your turn. DO NOT LEAVE THE SYSTEM RUNNING FOR EXTENDED PERIODS OF TIME WITHOUT SUPERVISION. Had I told you that before this happened, you'd have called me an idiot and done it anyway. And now, I'd be saying I told you so.
Seriously, I can't hammer it home enough. You will be leaving yourself very exposed to unnecessary risk if you do this. As has been mentioned, automated trading is to remove the emotions from trading, not to set and forget a system for 3 months (or 8 hours) and come back to it. It just can't happen that way, and if you continue to doubt that, your account won't be around much longer. Good luck!
Ahhh....I gotcha. I do remember the contract I signed said something about my broker not being responsible for software/hardware/technology, etc.... problems. TS is pretty much in the clear here. To answer your other question though, you may want to look into Amibroker. I know a guy who uses them for automated trading and he's very happy with them. I'm pretty sure you have to feed their software with data from a source such as eSignal so it isn't cheap. TS is great because you do 10 RT's per month and the platform is free but if it's unreliable free is pretty costly as you experienced.
Go google "automated trading platforms" and see what comes up or you could use the search feature on this site. You may find something here.
Go google "automated trading platforms" and see what comes up or you could use the search feature on this site. You may find something here.
Quote from Truckload:
Yes, that is correct. Tradestation says that there was a problem with the connection between the exchange server and their server resulting in one of my orders being rejected. The one rejected order caused all orders that followed also to be rejected. They acknowledge that the problem was betwen their servers and the exchange server but still refuse to do what is right and restor my account to its amount before they screwed up.
Remember when Globex went down for 6 hours a few years back? I still haven't been reimbursed for my loses on that day.
Quote from TrueStory:
Since no one else has bashed you too hard yet, let me take the opportunity. This type of thing happens to EVERYONE eventually if you are not watching your system trade. Trust me on that. It is not an exact science, no matter how much you want it to be or think it may be. There will always be power issues, internet connectivity issues, execution errors and so on. You are quite sorely mistaken to believe otherwise. I learned this the hard way, and I believe most others did as well. Now it was your turn. DO NOT LEAVE THE SYSTEM RUNNING FOR EXTENDED PERIODS OF TIME WITHOUT SUPERVISION. Had I told you that before this happened, you'd have called me an idiot and done it anyway. And now, I'd be saying I told you so.
Seriously, I can't hammer it home enough. You will be leaving yourself very exposed to unnecessary risk if you do this. As has been mentioned, automated trading is to remove the emotions from trading, not to set and forget a system for 3 months (or 8 hours) and come back to it. It just can't happen that way, and if you continue to doubt that, your account won't be around much longer. Good luck!
I would not consider that bashing, just sound conservative advice based on experience. I thank all of those who have responded including Surdo and Jeb999, because I think everyone is trying to help in their own way.
I would love to watch my system trade, but I can't give up my job until I can take enough OUT of my account each month to replace that income. I have developed an awesome system. Maybe I should consider putting it on C2 or StrategyRunner for lease to other people? That way maybe I could generate enough monthly income so that I can watch my own system trade my own account.
That does not make it right, honest, ethical or moral. Get over it. Right is right and wrong is wrong.
Hobbes conception of Goodness: But whatsoever is the object of any man`s appeite or desire, that is it which he for his part calleth god: and the object of his hate and aversion, evil....For these words of good and evil....are ever used with relation to the person that useth them: there being nothing simply and absolutely so; nor any common rule of good and evil.
Hobbes conception of Goodness: But whatsoever is the object of any man`s appeite or desire, that is it which he for his part calleth god: and the object of his hate and aversion, evil....For these words of good and evil....are ever used with relation to the person that useth them: there being nothing simply and absolutely so; nor any common rule of good and evil.